Watertown, MA

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

This week, we saw a minor drop in listing inventory for both single family homes and condominium homes. The single family homes and multi-family homes have seen a slight decrease in average list price, which is great for buyers in the area. However, condominium homes have seen a slight increase in their average list price, which does not seem to make sense as we enter the deep winter months.

Average market time for the active listings in Watertown has dropped down to 69 days from 81 days. This means that homes are staying on the market shorter now, which is a great sign of good things to come.

There have been 2 more condominium closings since last week, bringing the year-to-date total to 226 sales. This is a small number in comparison to last year when there were 296 sales, a difference of 70 sales.

The depreciaton in single family home sales has decreased, while condominium home sales' appreciation has double since last week. Lastly, multi-family homes have seen a contnued depreciation with an increase in depreciation by more than $5,000.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Please click below to learn how you can help in our Toys for Tots collection campaign!

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

So, I want to touch on something this week that I have alluded to in past market statistics. We are now entering the "real" winter months, which has been historically slower for the real estate market (Side Note: We are still very busy at my office, with many accepted offers this past week and many more offers waiting for a yes or no). However, when I look at the market statistics it seems as though the sellers are not understanding the market.

This past week, all three housing categories had an increase in average listing price. This was surprising to me, because the average market time for each category was:

• Single Family Homes 81 days on market
• Condominium Homes 152 days on market
• Multi-Family Homes 160 days on market

Both the condominium homes' average market time and multi-family homes' average market time has exceeded the average market time of homes that have sold this year. This makes me question, if you're home has far exceeded the average market time of a sold home this year, is it possible that it is overpriced? Sorry, this was a rhetorical question because the answer is YES!

Listing agents need to set expectations for their sellers and refuse overpriced listings, because it is a waste of your sellers' time to let a listing languish on the market for 150+ days.

In good news... the homes sales increased in all 3 categories from last week, while last year's year-to-date sales stayed at the same level. Home are still moving and it is a great time to invest in the opportunites currently available in this market.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Please click below to learn how you can help in our Toys for Tots collection campaign!

The Warren Group has come out with its 4th Quarter Sales Review comparing statistics from September 2007 to September 2008 using Sales Volume and Median Prices. There was some great information included in this review, which shows great promise in our real estate market.

Is it a good time to buy in Watertown, MA?

Sure it is!

Is it a great time to sell in Watertown, MA?

Sure it is!

How can I say that it is a good time to do both? Doesn't that contradict itself?

Why would I say that when the media is reporting that we are in a horrible market? The media reports on the entire state of Massachusetts including many of the highly depressed areas, while real estate is local and needs to be taken on a town to town, neighborhood to neighborood basis.

Back to the last question, how can I say it's a good time to do both? If you need to sell your home and have the motivation to do so, please know that home sales have only decreased by -1.95% since last year. The market is not still plummeting, which means that buyers should understand that by waiting they could miss out on great interest rates or these great prices.

Here are the Sales Review taken from the sheet above for the town of Watertown. As you can see, while volume has dropped by 17.35% from 45 homes sales in September 2007 to 30 home sales in September 2008 the median sales price has only decreased by 1.95%.

If you have any questions on other towns in the area, please feel free to contact me at 617.448.9481 or email me at mark@smarthomesboston

Please click below to learn how you can help in our Toys for Tots collection campaign!

Click below to learn more about our services at Smart Homes Boston and Century 21 Commonwealth.

It is the season of giving and we at Century 21 Commonwealth have aligned ourselves with the Toys for Tots campaign in hopes of making the Holiday season a little brighter for children in the local area. If you or someone you know have new, unwrapped toys that you would like to donate to this great program, please feel free to contact me at 617.448.9481 or email me at mark@smarthomesboston

I can either come by your house to pick up your donations or I can give you directions to our office in Watertown, so that you can place the gifts under our office tree.

Thank you so much in advance for your support and I look forward to thanking you in person.

Please click on the flyer below to download the PDF version and spread it around to your family, friends, neighbors and coworkers. Have a safe and happy holiday season!

A couple of weeks back, The Smart Homes Boston Blog was mentioned as a source for market statistics in Watertown by the Watertown Tab's online blog. As you can imagine, I was pretty excited by this because I make this blog as a way to help educate the people in Watertown, Belmont, Arlington, Brighton, Waltham and Newton as to there current market conditions and more.

I hope that this recognition in the Watertown Tab online will help to create more traffic to the website and, in turn, help to create a better understanding of the market place by both buyers and sellers alike.

On another note, I wanted to congratulate Christine Laubenstein of the Watertown Tab for her dedication to their online blog. She blogs on a variety of subjects and is making a great effort to provide both informative and fun information on a daily basis.

It is great to have her, an avid blogger, in town to help educate everyone as to what is going on in and around town. Be sure to stop by the Watertown Tab's online blog to keep up to date on local news stories.

If you have any real estate questions please do not hesitate to contact me at mark@smarthomesboston.com or call me at 617.448.9481